Quanex Building Products (NYSE:NX) Announces Quarterly Earnings Results

Quanex Building Products (NYSE:NX) issued its earnings results on Thursday. The construction company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.13, Zacks reports. Quanex Building Products had a positive return on equity of 11.11% and a negative net margin of 13.85%.During the same period last year, the company earned ($6.04) earnings per share.

Quanex Building Products Trading Down 0.5%

Shares of NYSE NX traded down $0.09 during trading hours on Thursday, hitting $18.84. The company’s stock had a trading volume of 452,284 shares, compared to its average volume of 448,995. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.23 and a current ratio of 2.28. The stock has a market cap of $865.32 million, a price-to-earnings ratio of -3.35, a P/E/G ratio of 0.80 and a beta of 0.94. Quanex Building Products has a 12 month low of $11.04 and a 12 month high of $22.98. The business has a 50-day simple moving average of $18.97 and a 200-day simple moving average of $18.76.

Quanex Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 15th. Quanex Building Products’s dividend payout ratio is currently -5.68%.

Wall Street Analyst Weigh In

NX has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research report on Friday, July 17th. Benchmark reiterated a “buy” rating on shares of Quanex Building Products in a report on Thursday, August 27th. Finally, Zacks Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.00.

Institutional Investors Weigh In On Quanex Building Products

Institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. grew its stake in Quanex Building Products by 42.6% in the fourth quarter. Invesco Ltd. now owns 386,664 shares of the construction company’s stock worth $5,947,000 after purchasing an additional 115,494 shares during the period. State of Tennessee Department of Treasury grew its position in shares of Quanex Building Products by 26.3% in the 4th quarter. State of Tennessee Department of Treasury now owns 21,138 shares of the construction company’s stock worth $325,000 after buying an additional 4,407 shares during the period. XTX Topco Ltd increased its stake in shares of Quanex Building Products by 160.2% in the 4th quarter. XTX Topco Ltd now owns 78,775 shares of the construction company’s stock worth $1,212,000 after acquiring an additional 48,501 shares in the last quarter. VARCOV Co. purchased a new position in Quanex Building Products during the 4th quarter valued at about $1,113,000. Finally, Numerai GP LLC lifted its position in Quanex Building Products by 4.2% during the 4th quarter. Numerai GP LLC now owns 92,781 shares of the construction company’s stock valued at $1,427,000 after acquiring an additional 3,701 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.